June 17, 2024
Global Shared Mobility
Ict

Global Shared Mobility: The Future of Transportation is Shared

Emergence of Carpooling Services

Over the past decade, we have seen the emergence of new shared mobility services that are revolutionizing the transportation sector. Services like ride-hailing apps Uber and Lyft allow people to request transportation on-demand using their smartphones. By leveraging modern technology, these new services connect drivers with empty seats in their vehicles to passengers who need a ride. This shared transportation model provides significant benefits for both riders and drivers. For riders, services like Uber and Lyft expand travel options in areas that may lack robust public transportation systems. They also allow people to avoid the costs and hassles of owning a personal vehicle. For drivers, ride-hailing creates economic opportunities by utilizing spare vehicle capacity.

Rise of Micro-mobility Options

In addition to ride-hailing, we are seeing the growth of new micro-mobility options like electric scooter and bicycle sharing. Dockless electric scooters, which can be unlocked via app and left anywhere when the rider reaches their destination, have proliferated rapidly in cities across the world. scooter startups like Lime and Bird have deployed tens of thousands of scooters overnight in major urban centers. Similarly, dockless electric bicycle sharing allows people to locate nearby bikes on a map and pay by the minute. Global Shared Mobility has proven very popular for short, first-mile/last-mile trips that might otherwise be taken by car or public transport. It provides a healthy, low-cost transportation alternative and reduces urban congestion. With their ease of use and reasonable pricing models, micro-mobility services have gained widespread adoption among young urban users.

Integration with Public Transit Systems

As carpooling continues to grow, we are seeing greater integration with public transportation networks. In many cities, trip planning and payment apps now combine options from ride-hailing, scooters, bikes, buses and trains. Users can view travel times and fares for multi-modal trips involving various shared modes. Transport authorities are also incorporating dockless vehicles into their operations. For example, transit agencies are designating parking areas near stations for shared bikes and scooters. This allows travelers to complete the first or last miles of their commute without a private vehicle. Overall, combining carpooling services with public transport helps maximize system usage while reducing the number of personal vehicles on roads. It offers seamless door-to-door travel and promotes transit ridership.

Global Growth and Impact on Vehicle Ownership

The shared mobility sector is rapidly growing on a global scale, gaining popularity across both developing and developed nations. A 2019 study by UBS Investment Bank estimated that by 2025, the carpooling, micro-mobility and self-driving vehicles industry could grow to a $2.4 trillion market globally. Major cities across Asia, Latin America, Middle East and Africa are now experiencing an influx of new shared transportation options as global startups expand operations. Researchers have found that increased access to ride-hailing and sharing reduces personal vehicle ownership rates, especially among young urban residents. With carpooling fulfilling most daily transportation needs conveniently and at lower costs than personal car usage, many people are choosing not to buy their own vehicle. This global trend can help reduce urban congestion and carbon emissions as fewer cars clog city streets. Carpooling promotes sustainability while meeting transportation demands of fast-growing urban populations worldwide.

Challenges

While carpooling delivers several benefits, it also faces various challenges that need addressing to realize its full potential. Issues around infrastructure, regulation, labor practices and oversaturation have plagued some services. Cities must adopt flexible regulations and designate suitable public space for dockless vehicles. They also need to implement policies around driver wages, benefits and working conditions. From an operational perspective, companies have to address concerns over rider safety, vandalism, equal vehicle access across neighborhoods and profitability. Ensuring equitable service across all communities is crucial for shared mobility’s social acceptance. Technology advancements in vehicle electrification, autonomous vehicles and integrated platforms will further optimize shared systems. With continued innovation and collaboration between public and private sectors, shared transportation is poised to revolutionize how people globally get from place to place in the coming decades. It promises to make transportation more sustainable, accessible and affordable for all.

Future of Urban Air Mobility

A new frontier in carpooling is urban air transportation. Major aerospace companies like Boeing and Airbus are developing electric vertical take-off and landing (eVTOL) aircraft designed for intra-city passenger and cargo transport. Uber, Hyundai and other startups are also working on air taxi services using these aircraft. eVTOL aircraft can take off and land vertically like helicopters but have the high-speed cruise and range of a small plane. They offer a viable solution for traveling between congested urban areas within a metropolitan region. Initial concepts show how air taxi hubs and routes could be incorporated into ground transportation networks, with drones providing short-distance deliveries across dense city neighborhoods. While the regulatory and technological challenges of flying electric air taxis within populated areas are immense, analysts project this urban air mobility market could be worth trillions globally by 2040. If the innovations succeed in delivering reliable, carbon-free, affordable mobility via the skies, it has potential to truly transform urban transportation landscapes worldwide.

In the past decade carpooling services have revolutionized transportation globally. Technologies enabling the flexible, on-demand sharing of vehicles and micro-mobility devices are changing how people and goods move in cities. When properly planned and regulated, carpooling delivers significant economic and sustainability benefits by reducing individual car ownership. Future advancements from electric vehicles to autonomous systems and urban air taxis will optimize shared transportation further

*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it